United Bankshares, Inc. $UBSI Position Reduced by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. trimmed its position in United Bankshares, Inc. (NASDAQ:UBSI) by 56.0% in the third quarter, HoldingsChannel.com reports. The firm owned 125,797 shares of the financial services provider’s stock after selling 160,014 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in United Bankshares were worth $4,681,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of UBSI. Hantz Financial Services Inc. raised its stake in shares of United Bankshares by 261.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 749 shares of the financial services provider’s stock worth $27,000 after buying an additional 542 shares in the last quarter. Bogart Wealth LLC grew its holdings in United Bankshares by 655.4% during the third quarter. Bogart Wealth LLC now owns 763 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 662 shares during the period. Rothschild Investment LLC raised its position in United Bankshares by 174.8% in the third quarter. Rothschild Investment LLC now owns 838 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 533 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in United Bankshares by 528.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,175 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 988 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of United Bankshares by 394.1% during the 2nd quarter. Allworth Financial LP now owns 1,265 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 1,009 shares in the last quarter. 70.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on UBSI shares. Piper Sandler reiterated an “overweight” rating and issued a $47.00 target price on shares of United Bankshares in a report on Monday, January 26th. Stephens increased their price objective on United Bankshares from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods raised their price objective on United Bankshares from $40.00 to $43.00 and gave the stock a “market perform” rating in a research note on Monday, January 26th. Weiss Ratings upgraded United Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Finally, Zacks Research raised United Bankshares from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.67.

United Bankshares Stock Up 0.5%

United Bankshares stock opened at $44.28 on Friday. United Bankshares, Inc. has a twelve month low of $30.50 and a twelve month high of $45.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $6.22 billion, a PE ratio of 13.54 and a beta of 0.78. The firm’s 50 day moving average price is $41.49 and its two-hundred day moving average price is $38.61.

United Bankshares (NASDAQ:UBSI) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. United Bankshares had a net margin of 25.51% and a return on equity of 8.60%. The business had revenue of $430.85 million for the quarter, compared to analysts’ expectations of $315.50 million. During the same period in the previous year, the company posted $0.69 EPS. On average, research analysts predict that United Bankshares, Inc. will post 2.81 EPS for the current fiscal year.

United Bankshares Company Profile

United Bankshares, Inc, headquartered in Charleston, West Virginia, is a bank holding company that provides a full range of financial services through its primary subsidiary, United Bank. The company’s core offerings include retail and commercial banking products such as checking and savings accounts, certificates of deposit, personal and business loans, mortgages, and treasury management services. In addition, United Bankshares delivers private banking, wealth management, trust and fiduciary solutions, and investment advisory services to meet the needs of individual, corporate, and institutional clients.

United Bankshares operates an extensive branch network across West Virginia, Virginia, Maryland, the District of Columbia, Ohio, Pennsylvania, and South Carolina.